Palin’s Net Worth Exceeds $1 Million, Financial Disclosure Shows

Just before the weekend, the McCain campaign released running mate Sarah Palin’s first personal financial disclosure report as well as her tax returns for the past two years. The investment picture we get from her FEC-mandated financial disclosure filing is vague, since values and income are only reported as ranges, but it is clear that the Palin family is worth at least $1 million.

The vice presidential candidate and her husband, Todd, appear to direct most of their income into tax-advantaged retirement accounts such as an IRA, state pension plans and Todd’s 401k with the oil company BP. The couple’s largest non-retirement holdings are their family home, worth at least $500,000, and Todd’s fishing business and fishing leasehold, with a combined worth between $150,000 and $350,000.

With the release of Palin’s tax returns, some tax experts now question whether Palin owes back taxes and penalties on more than $60,000 worth of per diem travel and lodging reimbursements that she and her family received from the State of Alaska for official travel as governor. However, the McCain-Palin campaign has their own tax lawyers who claim the omission is legitimate and the per diems should not be considered taxable income.

You can view a PDF of Gov. Palin’s financial disclosure here. Warning: It’s a very large file.

On the Democratic ticket, here’s the disclosure Joe Biden filed during his unsuccessful presidential campaign. Biden’s 2007 Senate disclosure indicated his net worth was not more than about $216,000. While that would make Biden one of the Senate’s poorest members, his disclosed wealth does not include the value of his home, which he is not required to list. The New York Times recently valued Biden’s 6,800 sq. ft. lakefront home in Delaware at close to $3 million.

Dan is responsible for overseeing the Center's databases tracking lobbying activity and the revolving door. He joined the Center in 2004 and has specialized in monitoring political action committees and the personal finances of government officials. Dan previously worked as a research associate for Common Cause and graduated from the University of Delaware with degrees in political science and history.

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